ISO 20022 is probably the biggest payments change of the last 30 years—if not more. It’s also no longer news. The industry has known for years that it’s coming. In fact, some institutions began their migrations over a decade ago. But as…
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There have been impressive technological advances in banking systems in recent years. But banks can’t just purchase new software and expect it to magically improve their business—the product is only the beginning. Careful implementation and a culture of innovation and true transformation…
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I’ve been hearing a lot about the metaverse and how it’s going to shake up all sorts of markets, and I began to wonder what it will mean for the auto and equipment finance sector. Here in the US, the Today Show…
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As Yogi Berra once famously said, there is no difference, in theory, between theory and practice— but in practice, there is. That’s certainly true for tech transformation projects at banks. Most banks by now are well aware of the benefits of…
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Central bank digital currency (CBDC) has met with sustained skepticism, in particular from certain financial institutions. Opponents fear it may disrupt the banking system and undermine existing banks’ business models. Proponents argue that CBDC will equip the financial system with new capabilities…
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When banks move past the status quo and adopt an “everything is possible” attitude, they have the power to do truly transformative things. This is evident each year at the Qorus-Accenture Banking Innovation Awards, formerly the Efma-Accenture Banking Innovation Awards. The sheer…
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So far, in this series of blogs on the evolution of banking operations for the digital era, we’ve looked firstly at how banks can gain competitive advantage from bringing ops and tech closer together and then at how operations can help design…
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Getting young graduates excited about working in commercial banking will be a challenge for incumbents, as our report on Commercial Banking Top Trends in 2022 highlights. I began this series with a look at the industry’s outdated image in Wall St to…
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The $369 billion “climate action bill” that the US has just passed into law is positive news for banks committed to combatting climate change and advancing sustainability. The new legislation is likely to prompt corporate customers of US banks to accelerate their…
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Every bank of every size in every market will soon be forced to make a high-stakes decision: What should we do about super-apps? A bank’s answer to this simple, powerful question could mean nothing less than rewriting its strategy and rewiring its…
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When Neal Stephenson coined the term “metaverse” in his 1992 science-fiction novel, Snow Crash, he could hardly have foreseen that the phrase would be everywhere by late 2021. With bigtech giants like...
As you read this, the internet is being reshaped. And it’s already transforming banking. We have not witnessed a topic explode quite like the metaverse. While extended reality (XR) technology has been...
Back in 2009, Apple coined the catchy phrase, “there’s an app for that.” Since then, apps (single-use apps, that is) have multiplied exponentially and become part of everyday life for most people. But...
In a post-COVID world we have seen dramatic changes in the way customers pay, from the further shift towards a cashless society to a digital revolution in e-commerce payments. As we look forward, we s...
Digital payments are gaining popularity as cash usage declines around the world. While card payments still dominate in countries where they have a large incumbent advantage, digital products like paym...
Buy now, pay later (BNPL). It’s a message that appeals to customers, and it’s a growing trend that’s shaking up the credit industry. Fintechs have been moving aggressively to offer BNPL point-of-sale ...
At the recent Money 20/20 conference, I spoke with The Fintech Times about which potential disruptors banks and payments players are most concerned about. Accenture surveyed over 200 payments executiv...
Every January since 2018, our annual “Top 10 Banking Trends” report has attempted to cut through the noise and reveal the real forces shaping the industry’s future. On top of the bold predictions and ...
Most of the time, major moments of change only become obvious in retrospect. But the COVID-19 pandemic has been a watershed moment for banking visible in real-time. Each new day in 2022 takes us furth...
There’s a buzz in the payments industry following Apple’s announcement that it will enable “tap on phone” on its devices. Let’s take a closer look at this opportunity and why everyone is talking about...
